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1.
A Person that comes in second place; One that trys to finish something, but never seems to make it to the finish line.
I played in a poker tournament the other day and went heads-up and had the win in my grasp, but I blakedout !
by unomeimdfp May 16, 2011
 
2.
Verb - "to blake out"

A process involving a combination of very tight clothing and a barrage of shots, culminating in a complete disregard for usual standards in selecting bedfellows.

The subject will wake up the following morning with no recollection of the previous night's events.
Margot: "McLean! Where have you been?"

McLean: "What happened last night? I just escaped from Cougarville. I woke up in handcuffs and I have a tattoo of a unicorn."

Margot: "Wow! You totally blaked out!"
by Caspertheseedyghost October 10, 2011